Casino software company Playtech in the news

In the Irish casino news the Irish broker Goodbody has boosted the share price in the online casino software operator Playtech by recommending a buy. Casinos.ie is not in business of making recommendations about stock pricing but it is interested in reporting news which might be of interest to online casino players as they are often also playing other markets. Playtech is in the casino news as it has recently bought into the options broker TradeFX which as the name suggests is in the foreign exchange markets which is quite different from online casino software and although initial reaction to the purchase was not overwhelming due in part to it being what is known as a related party transaction  which means that a major shareholder of Playtech was selling the shares, it did gain more than 99%approval at the recent shareholders meeting. The reason for the recommendation in the casino news is that it helps reduce the share of revenues from unregulated markets. In further casino news it appears that Irish gamblers are responsible for reduced profits at Ladbrokes as they have won too much; well done Irish gamblers. It is not clear whether that is from the online casinos market but most likely it is from football results and horse racing. Ladbrokes casino was in the casino news recently when a new Chief Executive was installed in the form of Mr Jim Mullen and it seems that he is keen to restructure the Irish business as it is reported in the casino news that an application has been made to the High Court in Dublin to do just that. How this will affect Ladbrokes casino and other gambling in Ireland remains to be seen but casinos.ie will attempt to follow and report to its readers.